The people who plan, organize, lead, and control the operations of an organization.
Responsible for business performance
Effective—do the right things; achieve goals
Efficient—do things right; lower costs
Accountable to all key stakeholders
Develop strategic and tactical plans
Analyze competitive environments and plan, organize, direct, and control operations
THE MANAGEMENT PROCESS
The process of planning, organizing, leading, and controlling a business’s financial, physical,
human, and information resources in order to achieve its goals.
That portion of a manager’s job concerned with deter- mining what the business needs to
do and the best way to achieve it.
That portion of a manager’s job concerned with mobilizing the necessary resources to
complete a particular task.
(OR DIRECTING) That portion of a manager’s job concerned with guiding and motivating
employees to meet the firm’s objectives.
That portion of a manager’s job concerned with monitoring the firm’s performance and,
if necessary, acting to bring it in line with the firm’s goals.
Types of Managers
Those managers responsible for a firm’s overall performance and effectiveness and for
developing long-range plans for the company.
Those managers responsible for implementing the decisions made by top managers.
Those managers responsible for supervising the work of employees.
Areas of Management
Marketing Managers: development, pricing, promotion, and distribution of products and services
Financial Managers: to oversee financial resources
Operations Managers: responsible for company’s system for creating goods and services
Human Resource Managers: hire employees, train them, evaluate their performance
Information Managers: responsible for systems to gather, process, and disseminate information
MANAGEMENT ROLES AND SKILLS
1. Managers work at an unrelenting (unending) pace
2. Their work is characterized by brevity, variety and fragmentation
3. They prefer live action and emphasized work activities that were current, specific and well-defined
4. They were attracted to verbal media
Skills associated with performing specialized tasks within a firm.
HUMAN RELATIONS SKILLS
Skills in understanding and getting along with people.
Abilities to think in the abstract, diagnose and analyze various situations, and see beyond
the present situation.
Skills associated with the productive use of time.
Skills in defining problems and selecting. Steps in making decisions:
Recognize and define the decision situation